Spotlight

Indian equity markets are likely to open higher, with GIFT Nifty futures trading near the 24,200 level in early trade, suggesting a gap-up opening relative to the Nifty's previous close of 23,985. Despite the positive opening cues, underlying sentiment is expected to remain cautious as geopolitical tensions in the Middle East continue to dominate investor focus.

Fresh strikes by U.S. and Saudi forces on Iran-linked militant sites in Iraq, alongside reports of Iranian missile strikes on U.S. military bases, have intensified geopolitical tensions and revived concerns over energy supply disruptions. As a result, WTI crude oil has surged back to around $82 per barrel after briefly falling to near $78, reflecting a renewed geopolitical risk premium as markets closely track developments in the Middle East.  

Technical view

Nifty 50

Nifty 50 is expected to trade on a cautious note, with the index needing to reclaim and sustain above the 24,000 psychological mark to improve near-term sentiment. A sustained move above this level could pave the way for an advance towards the 24,200 zone, followed by the 24,400 region, which also coincides with the 200-day Exponential Moving Average (EMA).
 
On the downside, the 23,900–23,800 zone remains the immediate support and the first line of defense. Holding above this region will be crucial to preserve the ongoing recovery, while a decisive break below 23,800 could trigger renewed selling pressure and drag the index towards the 23,600 demand zone. Overall, the near-term technical outlook remains cautiously constructive. A sustained move above 24,000 will be required to strengthen bullish momentum, while holding above 23,900–23,800 remains essential to prevent another leg of downside.

Bank Nifty

Bank Nifty is expected to trade with a cautious undertone, with the index likely to remain under pressure unless it reclaims key resistance levels. A sustained move above the 57,000 zone will be essential to improve near-term sentiment and support a recovery towards the 57,300–57,400 region.
 
On the downside, the 56,700–56,600 zone remains the immediate support. Holding above this region will be crucial to prevent further weakness, while a decisive break below 56,600 could accelerate selling pressure and drag the index towards the 56,400–56,300 support zone. Overall, the near-term technical outlook remains cautious.